PayPal has filed a patent for a system and method to investigate trust scores. The system calculates trust scores based on peer transfers and displays interactive elements associated with a peer transfer. Upon receiving an indication that an element has been activated, the trust score is recalculated without considering the corresponding peer transfer. GlobalData’s report on PayPal gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on PayPal, Social commerce was a key innovation area identified from patents. PayPal's grant share as of September 2023 was 55%. Grant share is based on the ratio of number of grants to total number of patents.
Investigating trust scores in peer transfers
A recently filed patent (Publication Number: US20230315264A1) describes a system for trust score investigation. The system includes a non-transitory memory storing instructions and one or more hardware processors. The system is designed to receive a loan request from a device and access databases to retrieve historical loan information associated with the entity. Based on the loan amount and historical loan information, the system calculates a trust score for the entity. The trust score is used to determine parameters associated with the loan request. A graphical user interface (GUI) is displayed on a second device, showing the determined parameters and an actuatable element for the loan request. When the actuatable element is actuated through the GUI, the trust score is recalculated.
The system also has the capability to remove certain loans from consideration in calculating the trust score, based on an indication received through the GUI. The trust score is then updated using the remaining loans and the parameters associated with the loan request are updated accordingly. The GUI displays the updated information, including the updated trust score and parameters.
Additionally, the system can determine other entities with similar trust scores and access historical loan information of those entities. This information is analyzed to provide further insights into the trust score calculation.
The system can determine parameters such as interest rate and payback timeline for the loan request. The historical loan information includes repayment information, indicating whether the entity has had late payments on any of the loans.
The system also includes a feature to compare the calculated trust score to a threshold value. If the trust score exceeds the threshold value, limits associated with the entity, such as a maximum loan amount, are determined.
In summary, the patent describes a system that utilizes historical loan information to calculate a trust score for an entity and determine parameters for loan requests. The system includes features for updating the trust score, analyzing similar entities, and setting limits based on the trust score. The system aims to provide a more accurate assessment of an entity's trustworthiness in the context of loan requests.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
